Laurel MT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Laurel, MT Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Laurel Housing Market Information

With 6,766 people, 2,882 houses or apartments, and a median cost of homes of $218,119, Laurel real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Laurel, accounting for 65.24% of the city's housing units. Other types of housing that are prevalent in Laurel include mobile homes or trailers ( 15.41%), large apartment complexes or high rise apartments ( 9.93%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.52%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Laurel. Owner-occupied housing accounts for 66.22% of Laurel's homes, and 54.68% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Laurel built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Laurel built between 1940-1969 ( 26.17%). A lesser amount of the housing stock also hails from before 1939 ( 17.08%). There's also some housing in Laurel built between 2000 and later ( 7.59%).

Laurel Home Appreciation Rates

Appreciation rates for homes in Laurel have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 31.15%, which ranks in the top 40% nationwide. This equates to an annual average Laurel house appreciation rate of 2.75%.

Appreciation rates are so strong in Laurel that despite a nationwide downturn in the housing market, Laurel real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Laurel appreciation rates continue to be some of the highest in America, at 6.14%, which is higher than appreciation rates in 83.98% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Laurel. Laurel appreciation rates in the latest quarter were at 3.04%, which equates to an annual appreciation rate of 12.74%.

Importantly, this makes Laurel one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Montana, our data show that Laurel's latest annual appreciation rate is higher than 80% of the other cities and towns in Montana.

Average Home Values

 

Median Home Value:
$218,119

Laurel, MT HOME PRICES

Value Range
> $1,170,000 0.0
$877,001 - $1,170,000 0.5
$585,001 - $877,000 1.5
$468,001 - $585,000 2.7
$351,001 - $468,000 7.4
$234,001 - $351,000 31.4
$117,001 - $234,000 41.8
$59,001 - $117,000 6.4
$0 - $59,000 8.3

Average for MT
High for Nation

Value Relative to Nation Value Relative to State
34.5226277372263 50.78125

Number Of Homes And Apartments:
2,882

Laurel Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MT*
Compared To
America*
Latest Quarter:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
106.14% 3.73%
3
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$889 / per month

Homeownership Rate

Homeownership
Owners 66.22
Renters 33.78
Vacant 3.68

Housing Market Details

 

Age of Homes

AGE OF Laurel HOMES
2000 or Newer 7.6
1970 - 1999 49.2
1940 - 1969 26.2
1939 or Older 17.1

Types of Homes

TYPE OF Laurel HOMES
Single-Family 65.2
Townhomes 2.9
Small Apt. Buildings 6.5
Apt. Complexes 9.9
Mobile Homes 15.4
Other 0.0

Home Size

SIZE OF Laurel HOMES
No Bedroom 2.31
1 Bedroom 11.46
2 Bedrooms 26.84
3 Bedrooms 39.14
4 Bedrooms 15.54
5 or more bedrooms 4.71

Popular Neighborhoods in Laurel

Popular Communities Near Laurel, MT

Zip Codes in Laurel, MT